Prospective requirements of RBCZ

 

  • Legal entity

    1. How do I know whether the entity is active or passive entity

      The basic difference between “active” and “passive” entities is the type of business they run and if you generate active income (manufacturing, services, etc.) or passive income (rents, dividend or interest yields).

    • The basic definition of passive entity

      • Revenues from financial activities (within the profit and loss statements) accounted for more than 50% of total revenues.

      • The entity primarily owns real estate of which it rents more than 50%.

      • The entity primarily owns shares in other entities, more than 50% of its total gross income was brought by dividends, granted licenses or patents, or by interest or bonds.

      • The activities of the entity are a combination of the above passive companies, i.e. the entity generates more than 50% of its total gross revenues by renting buildings, premises, apartments, warehouses, etc., from dividends, bond interests, or from licenses or patents granted.

    • Specific types of activities of a passive non-financial company

      • Activities of holding companies

      • Activities of trusts, funds, and similar financial entities

      • Renting of own or leased real estate

      • Gambling clubs, casinos, and betting agencies

    • For more information, please see the Common Standard for Reporting

      Which documents shall I prepare when I pay my taxes in the same country where I have my registered office?

      If your tax residence is in the same country as your registered address, we will require standard documentation from you – a document on the establishment of your entity and you will have to sign the client data form at our branch, to confirm the tax residency of your entity

      Which documents shall I prepare when I pay my taxes in another country than the country where I have my registered office?

      If your tax residence is in a different country than your registered office, we will standard documentation from you – a document on the establishment of your entity and a tax residence certificate. If you already have the certificate, please bring it with you to our branch. In case you do not have the certificate, you will have to deliver it to us within 90 days of signing the agreement and the client data form.

    1. How shall I proceed if I receive Call for Cooperation from RBCZ

      In case RBCZ informs you that you have to explain inconsistencies in your entity’s data or provide a missing data, it is important to find out what exactly is required from you. Here are the most frequent types of calls:

      • We found a discrepancy between the state of your tax residence and your entity’s registered office in the documents we received from you, or we found other evidence that your entity is not a tax resident in the country you specified. For this reason, we cannot consider the client data form that you have signed to be valid and we need you to provide a statement of your entity’s tax residence. For more information on tax residence certificate clickhere.

      • You have not registered your tax identification number (Tax ID) with us:

        • We are legally bound to register your Tax ID, however, we do not know the number and it is therefore necessary that you communicate it to us. Click here to see the guide to find your Tax ID